International Insurance News Archives

Illegal charters and protest damage lead to insurance coverage challenges

November 14, 2023November 13, 2023 H. Cutner

Insurance coverage Challenges - Airplane

Experts are encouraging business aviation professionals to think about indemnity liability policies. With a growing number of protests and illegal charters leading to expensive damage, insurance coverage concerns have been on the rise among business aviation professionals. The industry is continuing to struggle to determine what type of effect these events will have on cost. Last June, anti-private aviation protestors broke into the Sylt Airport in Germany, coating a Cessna Citation Mustang in orange paint. The damage caused by the vandalism was valued at more than $1 million, meaning that…

German regulator mislead by Greensill on insurance deal, says IAG

November 13, 2023November 9, 2023 Nordstrom

Insurance deal - Mislead - keyboard button

According to the accusation, the dupe was mean tot help reduce the unit’s capital requirements. One of Greensill Capital’s insurers has alleged that the failed lender duped German regulators regarding an insurance deal in an effort to try to shrink its Bremen-based unit’s capital requirements. Greensill investors are currently suing the Insurance Australia Group (IAG) as they face billions in losses. The investors have accused defunct Greensill supply-chain finance group of hiding that it did not have the insurance deal in place that they were led to believe. Instead, the…

Navigating Insurance in Lithuania: Protecting Your Future

October 10, 2023 Guest Author

Insurance is an essential aspect of financial planning, ensuring security and peace of mind for individuals and families. In Lithuania, understanding and selecting the right insurance can significantly impact your financial well-being. Let’s conduct a small expert study of the insurance system in Lithuania and try to find some of its features. Insurance Essentials in Lithuania To make informed decisions about insurance in Lithuania, it’s crucial to understand the fundamental aspects: Diverse Insurance Options: Lithuania provides a wide range of insurance products, catering to various needs – life insurance, property…

New marine insurance facility established for Ukraine grain exports

October 2, 2023September 28, 2023 Marc

Marine Insurance - Ukraine Grain Exports

The facility was created along with Ukrainian authorities to use the country’s sea corridor. Ukrainian authorities and marine insurance broker Miller have collaborated to create a new marine coverage facility for Ukraine’s grain experts using the country’s sea corridor. In July, Russia backed out of a UN-supported deal to allow Ukraine’s grain exports to sail from three ports. Since Russia’s withdrawal from the deal, Kyiv has created what it refers to as a new temporary humanitarian corridor for the purpose of sidestepping the stoppage Russia has put in place. Recently,…

Ukrainian war refugees to receive health insurance in Israel until the end of 2023

August 25, 2023August 24, 2023 Logan B.

Health Insurance - Israel flag and Ukraine flag

The Israeli government is extending coverage to include the refugees from the war in Ukraine. Ukrainian war refugees to Israel had been receiving health insurance coverage within that country until the start of this month, when the cover was stopped. This occurred when the country’s Finance Ministry decided not to allocate funds to that purpose. Now, the Israeli government has decided to extend coverage back to those refugees until the end of the year. The Israeli government recently announced its intention to extend the health insurance coverage to the Ukrainian…

Iranian government shuts down insurance company due to hijab violation

August 3, 2023August 2, 2023 Nordstrom

The government has taken action against the Azki.com insurer because of this broken regulation. The Iranian government has suspended the operations of an insurance company called Azki.com after female employees were photographed without wearing the hijab, which is mandatory in business in the country. The insurer is a start-up that sells coverage contracts from main government insurers in Iran. The discovery of the pictures showed that some female employees of the insurance company weren’t wearing their headscarves. This drew heavy criticism from large media in Iran, which demanded that the…

Ukraine cargo insurance stopped as Russia abandons grain agreement

July 25, 2023July 24, 2023 H. Cutner

Coverage is no longer being offered for shipments from the country as Russia quit the UN-backed deal. A cargo insurance company providing Ukraine grain shipment coverage through a safe sea corridor has now been suspended following Russia’s exit from the agreement backed by the United Nations, according to broker Marsh. Moscow announced that it was stepping away from the grain deal that was established a year ago. The grain deal was made between Russia and the United Nations to help reduce the risk of creating hunger around the world by…